Pay Day is Directly Related to Motivation, Enthusasm and a Enterprises Love for Employees
The strategic management point of reference concerning pay day or payroll should be transparent so that all prospective employees, new employees and the company’s existing employees will know up front what the company’s policy is regarding the money that is owed to them which is how pay day or payroll is perceived.
The psychological contract that an employee and employer may have regarding the hiring of employees is directly related to the cash that is paid for work. The company’s track record as it concerns paying employee on a timely basis is very important in regards to recruiting prospective employees because they want trust that the funds owed to them are in the bank. Getting paid timly is more important than the currency that is used to pay them of course gold and cash is prefered. The employer’s strategic management should make it convenient for the employee to cash checks on the expected date.
When the prospective employee is interviewed the employee and employer develops a psychological contract that creates parameters for employment with the company. HR and salary is very much apart of that contract which hr-and-payroll oversees. The first several weeks of employment is very precarious because the employee can easily loose their love for the company and walk away from the job with out their being a record of employment.
If an employee is not paid because of insufficient funds regarding hr it will have a devastating impact on the reputation and integrity of the company. If the company has any difficulties on the date of hr-payroll the CEO and HR Director should be directly involved. Their presence and strategic management is required to assure the employee that the problem is an exception and that the company solidly stands behind its pay checks and it will correct any problem as soon as possible.
The company should allow employee extra time during pay day to cash any checks from hr. This is the day that the prestige of the company is important. Motivation, enthusiasm and love on this day is very important. Please find the personnel hr policy statement below to be clear strategy concerning when and how employees are paid:
HR and Company’s name has twenty six pay periods in the year with pay days every two weeks. It is the policy of Company’s Name to pay employees by check or direct deposit on a regular basis and in manner so that the amount, method, and timing of such payments comply with any applicable laws or regulations. When a payroll check is discovered missing or have errors, please contact hr. If your company pays at different time periods and it does not endorse direct deposit, make the appropriate changes in order to make it convenient for employees.